A spinoff of the the dairy giant Inner Mongolia Yili Industrial Group Co., China Youran Dairy Group Ltd., is seeking a HK$6.2 billion ($799 million) initial public offering (IPO) on the Hong Kong Stock Exchange, reports Caixin.
Investors will be able to order shares from Monday, with the offering priced on June 10 and stock starting to trade on June 18. Youran and private equity firm PAG are selling 715 million shares at prices between HK$6.98 and $8.66 per share.
At the high end of the suggested offering price range, the dairy company would be valued at HK$32.87 billion, compared with about HK$13.2 billion for its main rival China Modern Dairy Holdings Ltd., a subsidiary of China Mengniu Dairy Co.